Private Firm Buys Two LTL Carriers

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private equity firm said it purchased two Wisconsin less-than-truckload carriers and that the combined company that will generate $365 million in annual revenue.

Thayer Capital Partners, Washington, D.C., bought Roadrunner Freight System, Cudahy, Wis., and had earlier purchased Dawes Transport Inc., Milwaukee.

Dawes was ranked No. 95 in the 2004 Transport Topics 100 listing of U.S. and Canadian for-hire carriers, while Roadrunner was No. 100.

In a press release, Thayer said the combined company, to be called Roadrunner-Dawes, would have been ranked No. 63 in the TT 100 based on its revenue, and 16th in the LTL sector.

Alan McBride, Dawes Transport’s chief executive officer, will be the new venture’s CEO, while Barry Turner, Roadrunner’s president, will be chief operating officer, Thayer said.